Spend the time it takes to learn from others and take advantage of the experience of others. Make every investment dollar spent bring value in the form of cash dividends. You will find that investing in those companies that raise their dividend every year, coupled with stock appreciation to be a very powerful and effective wealth creating formula.
Contributing regularly makes investing easier and puts your money to work sooner. Through a continuous purchase plan, like those available from BMO Mutual Funds, you will be contributing more regularly such as monthly or bi-weekly. This gives you the comfort and convenience of making smaller, regular contributions to your RSP portfolio and it means your retirement account can grow considerably, due to the remarkable impact of compounding.
Education IRAs allow you to save for qualified higher educational expenses for a beneficiary. Parents and guardians are allowed to make nondeductible contributions to an education IRA for a child under the age of 18.
Contributions are allowed prior to the beneficiary turning 18, and contributions may not exceed $2,000 per beneficiary per year.